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Hi Augustine,

  1. I’m not worry about the rise in non controlling interest as Breadtalk is working with MINT to increase their exposure in the Thailand market. Since it is a 50/50 joint venture, you can expect the non-controlling interest to increase further if the collaboration is successful. 
  2. Yes, always exclude non-controlling interest in the calculation since it doesn’t belong to the group. Another metric you might want to monitor closely is operating cash flow before working capital. That’s something I look closely (than the company’s earnings) to monitor their actual performance :)